90 Seconds Has Paid out $64 Million to Creators on the Platform
90 Seconds, the global video creation platform, just announced it has raised US$20 million (S$27.1 million) in a Series B funding round from new and existing investors including SIG, Airtree Ventures, Sequoia India, Qualgro Venture Capital, Atami Capital, and Right Click Capital.
The fund raise will be used to increase automation and intelligence to personalise brands’ experience on the platform in order to scale video creation. It will also allow 90 Seconds to expand and enhance its creator network to provide brands greater global coverage across major regions and key remote locations.
90 Seconds revolutionises the way video production is managed. Much of the company’s success is attributed to its unique technology including its end-to-end suite of collaboration tools, which helps brands connect and track offline shoots back to an automated online workflow. Additionally, 90 Seconds offers brands the ability to create quality video anywhere, seamlessly through an ecosystem of creators around the world.
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Globally, video consumption is exploding across devices and formats. With more than three-quarters using their mobile phones to watch content, mobile has become a primary device for video viewing.
But creating quality videos at scale for different devices and platforms remains a challenge for brands. 90 Seconds addresses this gap by connecting brands with a large creator community and ensuring a fully digital production experience. Together, this allows brands to easily deliver great video content that tells a story, engages people, and drives results.
Since its Series A funding in 2016, 90 Seconds has grown by more than 400% and expanded its reach to over 160 countries and 900 cities. The company has worked with over 3,000 brands including HP, Google, DBS, Jaguar, Moët Hennessy, American Airlines, Kraft, McDonald’s, PayPal, Zalora, Accenture, Primark and Amazon.
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“As the scale and speed of video creation increases, we’re at the forefront of capturing this demand by moving from a fragmented services industry solution to an intelligent internet platform. We’ve already created about 30,000 high-quality videos for social media and television which is underscored by the consistently high ratings (4.7/5) we receive from brands,” said Tim Norton, Founder and CEO of 90 Seconds.
“We’re incredibly excited with the latest Series B funding round. Many of the investors involved, including Sequoia India and Airtree Ventures, have come back to support us from the previous round, a testament to the commitment that we at 90 Seconds have for growing the business. With a strong 2019 in sight, the immediate priority for the business will be deepening relationships with media platforms like Google and Facebook, giving brands greater transparency into the ROI that they get from video campaigns,” added Norton.
Pieter Kemps, Principal, Sequoia Capital (India) Singapore added, “The biggest challenge for brands these days is to cut through the noise and get the attention of customers, to truly engage with them. With video being the most engaging type of content, we have seen huge demand for new ways to produce video at scale. We have been impressed with how 90 Seconds is emerging as the leading video creation platform, with many of the Fortune 500 companies benefitting from their technology and creator community.”
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